A lawsuit was filed for investors in shares of Blyth, Inc. (NYSE:BTH) in effort to halt the proposed takeover and NYSE:BTH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/18/2013 -- An investor, who currently hold shares of shares of Blyth, Inc. (NYSE:BTH) filed a lawsuit in effort to halt the proposed takeover of Blyth, Inc. by CVSL, Inc for $16.75per share.
Investors who purchased shares of Blyth, Inc. (NYSE:BTH) and currently hold any of those NYSE:BTH shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BTH stockholders arising out of the attempt to sell Blyth, Inc too cheaply via an unfair process to CVSL, Inc.
On October 29, 2013, Blyth, Inc. confirmed that it has received an unsolicited proposal from CVSL, Inc. to acquire, subject to conditions, all of the public common shares of Blyth for a per share consideration of $16.75, or approximately $269 million payable in CVSL shares or cash.
However, the plaintiff claims that the offer is too low and undervalues Blyth, Inc. Indeed, shares of Blyth, Inc. traded in 2012 as high as $44.00 per share and analysts have set the target price for NYSE:BTH shares at $40.00 per share. Blyth, Inc. reported that its annual Total Revenue rose from $827.61 million in 2011 to over $1.17 billion in 2012 and that its Net Income increased from $16.23 million to $44.00 million.
On Nov. 15, 2013, NYSE:BTH shares closed at $12.00 per share.
Those who are current investors in Blyth, Inc. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego